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Extras and Updates

Thanks to one political candidate, taxpayers are now learning about "effective tax rates". AKAS II has been writing about this topic since the TaxKits began. Recent data indicates that for much of America, the effective tax rate is zero percent.

For Tax Year 2011, there was a small but significant change to Schedule C, the form which most artists use to report their business activity. The IRS has been cracking down on unreported Form 1099 activity so it created Form-1099K for third-party merchants such as credit card companies.

Paid tax preparers are also under scrutiny. Tax preparer fraud currently tops the IRS "Dirty Dozen" list. To protect the taxpayer, all paid tax preparers must now have a Preparer Tax Identification Number. Also check for the preparers credentials and knowledge of taxation.

Please note that AKAS II never sends unsolicited e-mails. Neither does the IRS. Suspicious emails claiming to be from the IRS should be reported through this link.

Learn more about AKAS II and find out what the artists have to say about it! Then check out the TaxKit author's own artwork, selected reviews of her work, and her current endeavors such as The Marjorie Lawrence Project.

Thank you for your support! Your questions and comments are most appreciated at akasii@aol.com.


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